KOCHI : In the 50 years since its inception as a government-owned shipyard, Cochin Shipyard Ltd (CSL) has developed into one of the best ship building firms in the world. CSL, which is now a schedule B Miniratna PSU under the ministry of shipping, is set to launch its golden jubilee celebrations on Saturday.
CSL delivered its first ship MV Rani Padmini in July 1981 and in the golden jubilee year the company will hand over the first indigenous aircraft carrier of India ‘INS Vikrant’ to Indian Navy in May. Incorporated as a fully-owned Government of India company in 1972, CSL, the Government of India holds 72.86% of the company’s share capital.
The company started ship building operations in 1978 and the first ship was delivered after three years.
Over the years, CSL has successfully responded to fluctuations in shipbuilding requirements of the domestic and global markets and managed to work with several leading technology firms in the industry across the globe. The first greenfield shipyard in India, CSL is now the most modern shipbuilding yard in India with state-of-the-art facilities.
CSL Director (technical) Bejoy Bhasker said that CSL has exported 47 vessels to some of the most-demanding clients in major countries such as the US, Germany, Denmark, Saudi Arabia, the UAE, etc. CSL’s key shipbuilding clients on the domestic front include, Indian Navy, Indian Coast Guard, Shipping Corporation of India, Lakshadweep government, various port trusts, Inland Waterways Authority of India, etc.
According to the data with the CSL, the gross income of the company in the financial year 2020-21 was Rs 3,012.76 crore and the net profit during the period was Rs 610.10 crore. CSL pays Rs 200 crore as tax to the government in addition to a dividend of Rs 203 crore, Bejoy said.
The company has been certified with GreenCo Silver rating by the Confederation of Indian Industry (CII). CSL is the first company in the shipping sector to get the GreenCo Silver rating, said the director. The certification is based on performance evaluation of the company under various parameters such as energy efficiency, water conservation, renewable energy, etc. CSL, which bagged the Kerala CSR Leadership Award in 2021, completed 59 CSR projects in FY 2021 and 66 projects are currently under progress.
The one-year long celebration programmes would be inaugurated on Saturday. Union minister for ports, shipping and waterways Shri Sarbananda Sonowal, Union minister of state for external affairs Shri V Muraleedharan and others will attend the function to be held in Kochi.